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Three Once and Future Issues.
- Source :
-
NewsQuarterly . Fall2010, Vol. 30 Issue 1, p1-1. 20p. - Publication Year :
- 2010
-
Abstract
- The author discusses the codification of the economic substance doctrine in the U.S. He mentions section 7701(o), which has preserved the flexibility of the common law doctrine. Section 6662(b)(6) imposes a 20-percent penalty if tax benefits are prohibited because a transaction lacks economic substance. The author notes that the liability provision may prove to serve as a constraint on when the Internal Revenue Service raises the doctrine.
- Subjects :
- *CODIFICATION of law
*SUBSTANCE over form doctrine
*COMMON law
*TAX benefits
Subjects
Details
- Language :
- English
- ISSN :
- 15488977
- Volume :
- 30
- Issue :
- 1
- Database :
- Academic Search Index
- Journal :
- NewsQuarterly
- Publication Type :
- Periodical
- Accession number :
- 91923789